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Prescription required restrictions at for hers dot com apply. 0:01:00.600 --> 0:01:04.560 All Right, guys, Welcome back, l Yeah Exciting another exciting 0:01:04.600 --> 0:01:07.640 episode another one. Yeah, yeah, for sure, we're gonna jump 0:01:07.680 --> 0:01:11.000 right into We covered investing a few times, stock market 0:01:11.080 --> 0:01:14.760 investing and shout out to Trapper, shout Trap, shout out to. 0:01:14.760 --> 0:01:17.360 Quinn, shout quin got Yeah. 0:01:17.840 --> 0:01:21.320 So this is gonna be the third installment of Investing. 0:01:21.360 --> 0:01:22.840 Now we're gonna talk about some things that we didn't 0:01:22.880 --> 0:01:27.000 talk about the other two times. Futures market day, trading, 0:01:27.160 --> 0:01:29.959 some other stuff, because it's important for people to get 0:01:30.000 --> 0:01:31.959 a full range of investing. 0:01:32.000 --> 0:01:35.160 There's a lot of stuff being given out that's misinformation, 0:01:35.240 --> 0:01:38.480 people being mislest. So we have some things today. 0:01:38.720 --> 0:01:42.800 Yeah, so you got our guy, I donelap first and foremost, thank. 0:01:42.640 --> 0:01:44.520 You, Thank you. I appreciate you guys for having me. 0:01:44.640 --> 0:01:48.680 Yeah, and it's an investment expert. As you can see, looks. 0:01:48.480 --> 0:01:51.240 The part trying to make my mom proud. 0:01:52.240 --> 0:01:55.960 He's an investment expert. He's been featured on Huffington Post, 0:01:56.400 --> 0:01:59.760 Rolling Out magazine, He's spoken on the same spage with 0:02:00.120 --> 0:02:00.600 Eric Thomas. 0:02:01.880 --> 0:02:02.040 Yeah. 0:02:02.080 --> 0:02:04.200 Yeah, and he has a whole platform called red pandam Way. 0:02:04.240 --> 0:02:06.680 He teaches people how to invest and he has personal 0:02:06.720 --> 0:02:09.000 clients as well. So it's gonna be an interesting conversation. 0:02:09.040 --> 0:02:10.360 As I said, we're gonna talk about some things that 0:02:10.360 --> 0:02:14.040 we haven't spoke about yet, and it's important for people 0:02:14.040 --> 0:02:17.280 to know. So yes, the first thing I want to 0:02:17.320 --> 0:02:19.639 talk about is day trading. But before we get into 0:02:19.680 --> 0:02:23.079 day trading, how did you get into investment space? Like, 0:02:23.080 --> 0:02:24.680 how did you get into the space as far as 0:02:25.240 --> 0:02:29.400 investing yourself first and foremost and then taking that and 0:02:29.440 --> 0:02:30.880 then teaching other people to invest. 0:02:31.120 --> 0:02:33.320 Yeah, I first heard about it from my seventh grade teacher, 0:02:33.480 --> 0:02:36.080 mister Smolling. He was an older, white gentleman. I didn't 0:02:36.120 --> 0:02:39.080 listen to him. I wish I would have, because at 0:02:39.080 --> 0:02:41.160 the beginning of the class in math class, he would 0:02:41.200 --> 0:02:43.679 go through the newspaper and take us through through the 0:02:43.760 --> 0:02:44.959 highs and the lulls, and I was like, I don't 0:02:44.960 --> 0:02:45.440 care about that. 0:02:45.480 --> 0:02:46.799 I was too busy listening to mob. 0:02:46.720 --> 0:02:51.400 Deep we can relate the fact, mister Smolan if you're 0:02:51.400 --> 0:02:52.680 still living, Sorry I didn't listen. 0:02:53.440 --> 0:02:55.680 But fast forward to two thousand and seven in the recession. 0:02:55.960 --> 0:03:00.280 One of my buddies art he's from Birmingham. One of 0:03:00.280 --> 0:03:01.600 my friends like, we need to talk to this guy 0:03:01.639 --> 0:03:03.720 that I went to school with because he just made 0:03:03.720 --> 0:03:06.519 a killing in the market, and I'm like, and he's black, 0:03:07.280 --> 0:03:08.760 and he was like yeah. So I talked to Art 0:03:08.760 --> 0:03:10.560 and Art was like, man, I don't know what you're doing, 0:03:10.639 --> 0:03:13.120 but I need you to put every dollar you have 0:03:13.200 --> 0:03:13.880 into the market. 0:03:14.280 --> 0:03:15.799 Told you that, yeah, okay. 0:03:18.080 --> 0:03:20.079 And Kramer was on TV screaming. 0:03:21.360 --> 0:03:23.359 I remember in the Midwest a lot of my family 0:03:23.360 --> 0:03:26.800 members like being out of work because of recession hurt everybody. 0:03:27.400 --> 0:03:29.120 I didn't listen. I was like, I ain't gonna listen 0:03:29.120 --> 0:03:30.480 to this dude, what the hell are you talking about? 0:03:30.520 --> 0:03:33.120 But meanwhile, he's working at one of the biggest investment 0:03:33.160 --> 0:03:34.040 companies in the country. 0:03:34.760 --> 0:03:36.040 Put every dollar he had into it. 0:03:36.040 --> 0:03:39.240 He caught City at a dollar and three months later 0:03:39.240 --> 0:03:42.200 he was up five hundred percent from that. So once 0:03:42.240 --> 0:03:44.839 I saw him do it, with him being black and 0:03:45.040 --> 0:03:47.480 acting black, being proud of who he is, I was like, 0:03:47.520 --> 0:03:49.320 I need to listen to this guy. So he took 0:03:49.360 --> 0:03:51.360 me under his wing and he threw me in the 0:03:51.400 --> 0:03:53.080 deep end of the pool. He was like, if you're serious, 0:03:53.600 --> 0:03:55.720 you're going to do everything I tell you because I. 0:03:55.640 --> 0:03:57.440 Already know what to do. What's the age difference between 0:03:57.480 --> 0:03:59.000 you and him? Twelve years? 0:03:59.040 --> 0:04:01.240 Twelve years? Okay? So like he's the OG. 0:04:01.400 --> 0:04:03.800 Now, yeah, he's og, all right, I love you, Manure. 0:04:04.400 --> 0:04:06.840 So I think it's really important. 0:04:06.480 --> 0:04:10.680 For us to share our stories, especially being black, because 0:04:10.720 --> 0:04:14.080 we underinvest we under saved, we're undercapitalized. 0:04:14.520 --> 0:04:16.600 But yeah, he gave me my start and investment and 0:04:16.640 --> 0:04:17.359 introduced me to it. 0:04:17.480 --> 0:04:18.840 Then you just took it and just ran with it. 0:04:18.920 --> 0:04:19.279 You had to. 0:04:19.839 --> 0:04:22.240 Was there anybody in the family, like maybe mom or 0:04:22.279 --> 0:04:23.960 dad had a background of business. 0:04:24.279 --> 0:04:26.000 My dad, My dad was the one who inspired me 0:04:26.040 --> 0:04:27.960 to be an entrepreneur. So my dad had a construction 0:04:28.000 --> 0:04:30.480 company since twenty two So all of my work ethic 0:04:30.480 --> 0:04:34.599 I get from him. How strong and like directing to 0:04:34.640 --> 0:04:37.000 the point I am because like, business is tough. And 0:04:37.040 --> 0:04:38.719 then he was on business in the eighties and nineties 0:04:38.720 --> 0:04:43.840 there was no internet and they did well in their industry. 0:04:43.720 --> 0:04:46.560 With yellow page ads, follow up direct mail, so it 0:04:46.600 --> 0:04:47.080 was harder. 0:04:47.400 --> 0:04:49.400 So when he sees it now, he was like, you 0:04:49.440 --> 0:04:52.320 can text people and get businesses. Better, get your ass 0:04:52.400 --> 0:04:53.880 up at five o'clock and just text two to three 0:04:53.960 --> 0:04:56.640 hundred people. I had to get out and buy TV 0:04:56.760 --> 0:04:58.720 ads for twenty five grand and didn't know where were 0:04:58.720 --> 0:04:59.240 gonna be placed. 0:04:59.279 --> 0:05:01.240 Yeah, for a younger most yellow pages. It was a 0:05:01.320 --> 0:05:04.520 yellow book that year. 0:05:05.640 --> 0:05:10.679 Google Google from Indiana originally, right, yeah, each Chicago, Indiana, 0:05:10.760 --> 0:05:13.440 each Chicago, So that's like right outside of Gary, Indie, 0:05:13.920 --> 0:05:15.679 five minutes away. 0:05:15.920 --> 0:05:16.839 So I didn't grow up in like. 0:05:16.880 --> 0:05:20.839 Some amazing financial ecosystem, and we were poor for a 0:05:20.839 --> 0:05:22.960 long time. Like the reason why I don't even like 0:05:23.000 --> 0:05:24.880 the Bulls to this day. Like we got w G 0:05:25.040 --> 0:05:28.240 and programming with Chicago Programming, but when the Bulls were 0:05:28.240 --> 0:05:30.760 one of the titles, like our lights were off in 0:05:30.800 --> 0:05:34.559 the winter. So like most of my family is still 0:05:34.600 --> 0:05:37.640 to this day like lower income and poor. So like 0:05:37.720 --> 0:05:39.520 a lot of me giving back is because like I 0:05:39.600 --> 0:05:43.000 want to reach them and show like what's possible if 0:05:43.000 --> 0:05:45.360 you apply. Because everybody, I think in every hood knows 0:05:45.400 --> 0:05:47.919 what to do. They're not giving a direct path to 0:05:47.920 --> 0:05:50.000 be able to use that talent or work ethic to 0:05:50.000 --> 0:05:51.680 be able to make money because we all know people 0:05:51.680 --> 0:05:53.839 in the hood that are like stars and have potential 0:05:54.200 --> 0:05:55.760 but just went down the wrong path. 0:05:55.880 --> 0:06:01.720 So yeah, information, So if futures futures market, right, yep, 0:06:01.760 --> 0:06:05.280 because we hear about this a lot, like CNBC. If 0:06:05.320 --> 0:06:07.560 you ever watched CNBC, they talk about the futures market, yep, 0:06:07.760 --> 0:06:11.960 And they talked about futures. So not the rapper the 0:06:12.800 --> 0:06:16.440 future that is good. What what is what is it? 0:06:16.480 --> 0:06:17.359 What is futures? 0:06:17.400 --> 0:06:17.840 What are they? 0:06:17.960 --> 0:06:22.080 Yeah, futures is the highest paying asset class that no 0:06:22.120 --> 0:06:22.799 one knows about. 0:06:23.160 --> 0:06:24.279 What are the asset classes? 0:06:24.680 --> 0:06:27.360 So you have you have stocks that you can invest in, 0:06:27.400 --> 0:06:30.400 you have ETFs, you have mutual funds, but futures pays 0:06:30.400 --> 0:06:33.200 the most out of all of them. So for every 0:06:33.600 --> 0:06:36.280 one dollar that you can invest in, let's say and 0:06:36.320 --> 0:06:38.640 get in the stock the e S which is S 0:06:38.680 --> 0:06:40.480 and P five hundred pays one hundred and twenty five 0:06:40.480 --> 0:06:44.000 times more, and bonds paid three hundred and twelve times more. 0:06:44.320 --> 0:06:45.800 So if you go to sing sing be seen in 0:06:45.839 --> 0:06:48.479 the morning, like you said, that sets the tone for 0:06:48.520 --> 0:06:50.120 what the market is going to do because it's open 0:06:50.120 --> 0:06:51.120 twenty three hours to day. 0:06:51.120 --> 0:06:52.359 So what so what exactly is it? 0:06:52.400 --> 0:06:52.440 Like? 0:06:52.480 --> 0:06:53.200 What's the futures? 0:06:53.520 --> 0:06:55.360 Futures basically is is. 0:06:55.320 --> 0:06:58.560 Uh, you're making a guest or a bet whether the 0:06:58.600 --> 0:06:59.920 market is going to go up or down. 0:07:00.279 --> 0:07:01.640 But what certain asset class is. 0:07:01.640 --> 0:07:03.880 Like you know, the market is going to go up, 0:07:04.160 --> 0:07:06.680 generally gold is going to go down until something bad 0:07:06.720 --> 0:07:08.120 happens like they Iran attack. 0:07:08.800 --> 0:07:10.560 We know CREUD is going to be volatile. 0:07:11.040 --> 0:07:14.280 So it's what institutional investors use to gauge for what 0:07:14.320 --> 0:07:17.040 the market is going to do. And so like for example, 0:07:17.040 --> 0:07:20.080 I'll say, okay, who do you think do you think 0:07:20.120 --> 0:07:22.480 Lebron is going to average ten points this year or more? 0:07:23.000 --> 0:07:25.040 Definitely more? Do you just place the. 0:07:25.000 --> 0:07:27.880 Bet on Lebron averaging more than ten? That's all the 0:07:27.920 --> 0:07:28.640 futures market is. 0:07:28.680 --> 0:07:31.480 So the futures market is like after hour trading, yes, 0:07:31.800 --> 0:07:34.360 and it's pretty much like it's so it's like calls 0:07:34.360 --> 0:07:35.960 and puts on the options. 0:07:35.800 --> 0:07:38.600 But it's worldwide. And then it's twenty three hours a day. 0:07:38.640 --> 0:07:40.880 So at the open, the American open at eight thirty, 0:07:41.240 --> 0:07:43.440 that's when you have the most volume on it. But 0:07:43.480 --> 0:07:46.200 most of us, especially that they're black, don't know about 0:07:46.240 --> 0:07:48.559 it because we were the asset class that were traded. 0:07:48.960 --> 0:07:51.120 Why twenty three not twenty four hours a day because 0:07:51.120 --> 0:07:52.119 it has an hour arrest. 0:07:52.160 --> 0:07:54.240 And then the way the cycle goes from America to 0:07:54.680 --> 0:07:57.080 Asian market in London market, it's like a little break 0:07:57.080 --> 0:07:57.560 in between you. 0:07:57.680 --> 0:07:59.400 I got like that, like if you have like a 0:07:59.480 --> 0:08:02.160 file to like these channels from Asia. Yeah, they show 0:08:02.160 --> 0:08:03.520 the future market. 0:08:03.600 --> 0:08:05.320 So I'm gonna actually what you just said, I'm gonna 0:08:05.320 --> 0:08:07.800 elaborate on that. But before so all right, just understand. 0:08:07.840 --> 0:08:11.440 So stocks and I'm buying a stock, regular stock, and 0:08:11.520 --> 0:08:14.160 I'm just buying it at that price. If it goes up, 0:08:14.200 --> 0:08:15.840 I make money. If it goes down and lose money. 0:08:16.160 --> 0:08:18.440 Futures is, for lack of a better word, it's like 0:08:18.520 --> 0:08:23.480 kind of a guess where you're kind of predict predicting 0:08:23.960 --> 0:08:26.320 it's going to go up, like it's ten dollars now, 0:08:26.320 --> 0:08:28.000 but you think it's gonna go up to fifteen. Yes, 0:08:28.120 --> 0:08:30.360 So it's a future. That's why it's called futures because it's. 0:08:30.200 --> 0:08:32.559 Like you're guests. 0:08:31.640 --> 0:08:33.800 In the future. Yeah, and you can you can guess 0:08:33.800 --> 0:08:35.319 the future if it goes up, or you can guess 0:08:35.360 --> 0:08:37.360 the future if it goes down. Is that correct? 0:08:37.400 --> 0:08:37.880 Absolutely? 0:08:37.920 --> 0:08:39.640 And then you can make money whether the asset goes 0:08:39.720 --> 0:08:41.760 up or down. Now what are we basing that off? 0:08:41.920 --> 0:08:43.920 Is there information that's tied to the price of the 0:08:44.000 --> 0:08:46.240 S and P five hundred and the bonds market? So 0:08:46.280 --> 0:08:48.440 long term, I tell people to invest in index funds, 0:08:48.679 --> 0:08:50.760 so s P, Y D I A, and then I'm 0:08:50.800 --> 0:08:53.760 like trade the future because if you buy it long term, 0:08:53.920 --> 0:08:54.559 you can look at. 0:08:54.520 --> 0:08:55.880 Your account and see where it's going. 0:08:56.360 --> 0:08:58.120 Most days of S and P five hundred is going 0:08:58.160 --> 0:09:00.480 to go up unless Trump do something crazy, which is 0:09:01.280 --> 0:09:05.240 all the time. But that volatility even provides some movements, 0:09:05.240 --> 0:09:07.520 So if the market falls down five hundred points, you 0:09:07.559 --> 0:09:08.880 can profit when the market goes down. 0:09:08.880 --> 0:09:09.840 You can't do that with stops. 0:09:10.760 --> 0:09:12.280 And the S and P five hundred For anybody that 0:09:12.280 --> 0:09:15.160 doesn't know, it stands for standing and poors five hundred. Yes, 0:09:15.280 --> 0:09:18.280 five hundred companies like a microcosm of different stocks. So 0:09:18.320 --> 0:09:19.800 a lot of time you had a market is up 0:09:19.800 --> 0:09:21.480 and a market is down, and not talking about every 0:09:21.520 --> 0:09:24.240 single stock in the stock market. They're using dal Jones, 0:09:24.320 --> 0:09:27.040 SI and five hundred rest of two thousand. The S 0:09:27.080 --> 0:09:29.120 and P five hundred is like five hundred stocks from 0:09:29.160 --> 0:09:31.840 different sectors, and if all of those are moving in 0:09:31.880 --> 0:09:35.120 one direction or another, then pretty much the market is moving. 0:09:35.520 --> 0:09:35.679 Yeah. 0:09:35.679 --> 0:09:36.960 I think of the SMP is like the NBA. 0:09:37.120 --> 0:09:40.440 It's like the five hundred best players in one basket, 0:09:40.559 --> 0:09:42.240 and then the Dow thirty is like the best thirty. 0:09:42.280 --> 0:09:43.960 So when I people tell people to invest in the 0:09:43.960 --> 0:09:46.520 index fund, I'm like, imagine We was at the park 0:09:47.080 --> 0:09:49.079 and you have to pick five people, and I'm like, okay, 0:09:49.120 --> 0:09:52.680 you can get Giannis Lebron, Curry when he's not hurt, 0:09:53.360 --> 0:09:56.960 Harden and Westbrook and we play against five other teams, 0:09:57.080 --> 0:09:58.800 five other players that are just regular players. 0:09:58.840 --> 0:10:01.040 Who do you think goes win All Star Team? 0:10:01.320 --> 0:10:04.839 So you said that black people was traded? Yeah, can 0:10:04.840 --> 0:10:05.520 you talk about that? 0:10:06.520 --> 0:10:09.360 The financial market is, unfortunately, was based off slavery, So 0:10:09.400 --> 0:10:12.760 we were the first comodity actually traded. So most insurance 0:10:12.800 --> 0:10:17.000 companies got their start from slavery and insurance slaves and then 0:10:17.080 --> 0:10:20.520 futures contracts. They would make a guess about how many 0:10:20.600 --> 0:10:25.480 slaves would actually make it across land. And so that's 0:10:25.480 --> 0:10:27.440 why most of us don't know about it, because we 0:10:27.440 --> 0:10:28.439 were the things that were traded. 0:10:28.640 --> 0:10:29.439 We're not supposed to know. 0:10:29.640 --> 0:10:31.520 You said, futures contract, what is that? 0:10:31.559 --> 0:10:35.880 And so let's say hypothetically you had a thousand slaves. 0:10:36.640 --> 0:10:40.040 The companies would guess that maybe five hundred and sixty 0:10:40.160 --> 0:10:42.840 to seven hundred of them would end up dying, and 0:10:42.880 --> 0:10:45.520 they would have a contract on it that if they died, 0:10:45.559 --> 0:10:47.760 they would still make money off of it via insurance. 0:10:48.480 --> 0:10:50.640 It's funny, it's crazy that you say that, because it's like, 0:10:51.320 --> 0:10:54.400 yesterday I went to Schaumberg. You ever heard Schamburg. So 0:10:54.440 --> 0:10:59.240 the Schomberg libraries in Harlem, and it's world famous and 0:10:59.280 --> 0:11:03.280 it's like African American museum type, but it's not a museum. 0:11:03.280 --> 0:11:05.720 It's a library, exhibition stuff like that. So long story short, 0:11:05.800 --> 0:11:10.439 just yesterday I went there randomly and I was in there. 0:11:10.440 --> 0:11:12.280 I was in there and I was looking at different things. 0:11:12.280 --> 0:11:14.000 So I looked on the wall, so I saw the 0:11:14.000 --> 0:11:18.680 contracts for the company that predated New York Life. I 0:11:18.720 --> 0:11:22.520 forgot the name of it, but it showed the contracts, 0:11:22.520 --> 0:11:27.839 the life insurance contracts on slaves and so so I'm 0:11:27.840 --> 0:11:29.560 gonna get to that. So then on in the book. 0:11:29.600 --> 0:11:32.600 It's interesting because in the book it has like causes 0:11:32.640 --> 0:11:35.040 of death, age that they died, So it was all 0:11:35.120 --> 0:11:37.280 kinds of stuff like they like a lot of people 0:11:37.320 --> 0:11:41.960 died from inflammation of the stomach, diarrhere, all kinds of stuff, 0:11:41.960 --> 0:11:44.680 but it was so it's a book and it's like 0:11:45.080 --> 0:11:48.840 a lot like that's how New York Life Insurance got started. 0:11:50.000 --> 0:11:52.480 That was that was before that they changed the name 0:11:53.000 --> 0:11:59.320 and it was based off of ensuring slave masters on 0:11:59.360 --> 0:11:59.920 their slaves. 0:12:00.040 --> 0:12:02.640 Yeah, and I hears it say it, but racism is 0:12:02.679 --> 0:12:06.199 America's first startup, so the country is built off of us. 0:12:06.200 --> 0:12:08.000 But of course when we died, like you just said, 0:12:08.000 --> 0:12:11.280 they profited heavily, like and when you lose that many 0:12:11.880 --> 0:12:15.760 quote unquote commodities, you have to have an insurance policy 0:12:15.800 --> 0:12:18.120 in place to be able to cover it. So everything 0:12:18.160 --> 0:12:21.920 is tied together, insurance. Wall Street, I mean Wall Street 0:12:21.960 --> 0:12:24.360 was one of the biggest slave markets before it turned 0:12:24.400 --> 0:12:26.320 into like the economic center that it is now. 0:12:26.960 --> 0:12:29.559 Like slaves were traded on Wall Street. 0:12:29.600 --> 0:12:33.000 Yeah. I actually took a summer group to the Black 0:12:33.000 --> 0:12:35.400 burial ground in Manhattan. Yeah, and they give a detailed 0:12:35.400 --> 0:12:37.520 expert that whole situation. 0:12:37.960 --> 0:12:40.160 It's heartbreaking. Yeah, And once you dive into the information, 0:12:40.160 --> 0:12:41.440 it's fascinating but heartbreaking. 0:12:41.559 --> 0:12:42.240 Yeah yeah. 0:12:42.320 --> 0:12:45.040 Yeah. And the ships too. It's like I saw it 0:12:45.080 --> 0:12:47.840 on the ships where it's like they have people just 0:12:47.880 --> 0:12:50.720 like lined up, so it's like a lot of people 0:12:50.800 --> 0:12:53.079 not gonna make it because you it's like a month 0:12:53.200 --> 0:12:56.880 to get from Africa to America. And if you in 0:12:57.000 --> 0:13:00.000 a ship lined up with three hundred people right now 0:13:00.080 --> 0:13:02.760 next to each other, like people going to bathroom on themselves. 0:13:02.800 --> 0:13:06.040 It's like it's not really an efficient way to travel. 0:13:06.720 --> 0:13:11.040 So half of the slaves even more die just from that, 0:13:11.200 --> 0:13:13.120 like I mean, just like you can't so like you said, 0:13:13.320 --> 0:13:16.920 so that all comes into like the insurance. But it's 0:13:16.920 --> 0:13:19.360 interesting as far as like the commodities because it's like okay, 0:13:19.440 --> 0:13:23.520 like how many's actually gonna make it? Yeah, we could 0:13:23.520 --> 0:13:25.960 put bets on that, calls and puts on it. And 0:13:26.040 --> 0:13:29.280 if you can make money either way, people make it. 0:13:29.400 --> 0:13:29.600 Yeah. 0:13:29.640 --> 0:13:33.199 And also and during times of travesy like when crews 0:13:33.240 --> 0:13:35.360 shot down, you can make money as the market is falling. 0:13:35.440 --> 0:13:39.280 So unfortunately, whether we made it across the seas or not, 0:13:39.400 --> 0:13:41.240 they had a plan to be able to make money. 0:13:41.280 --> 0:13:43.080 And that's one thing I have to tell people when 0:13:43.080 --> 0:13:44.959 it comes to investing, like whether the market is good 0:13:45.040 --> 0:13:46.600 or bad, you have to be able to make money. 0:13:47.240 --> 0:13:50.440 We all have kids. Kids are not cheap by any means, 0:13:50.480 --> 0:13:52.320 and we have to invest more so we can have 0:13:52.360 --> 0:13:54.800 a future for them. But even when the market falls apart, 0:13:55.040 --> 0:13:57.800 like luckily with futures. Some of my biggest days, like 0:13:57.880 --> 0:14:00.000 August twenty four to twenty fifteen, the market dropped five 0:14:00.160 --> 0:14:01.880 hundred points. I had one of my best days, I 0:14:01.920 --> 0:14:05.640 had one hundred percent gainer that day Brexit, Like I 0:14:05.720 --> 0:14:09.240 made a ton of money on Brexit when that economy 0:14:09.280 --> 0:14:11.120 was falling apart, I was able to take advantage of 0:14:11.160 --> 0:14:13.360 it and then ride the ES down which is S 0:14:13.400 --> 0:14:15.719 and P five hundred, and then ride it back up. 0:14:15.880 --> 0:14:18.439 So regardless, in stocks, you can only ride them one way, 0:14:18.800 --> 0:14:21.280 but futures you can play both ways. 0:14:21.480 --> 0:14:23.360 So what are some markets that you can actually buy 0:14:23.440 --> 0:14:23.880 futures on. 0:14:24.720 --> 0:14:26.440 You can do it through TD amer Trade. 0:14:27.160 --> 0:14:30.040 I use Ninja Trader as well out of Chicago because 0:14:30.080 --> 0:14:32.680 it's five hundred per contracts at Ninja Trader. 0:14:32.680 --> 0:14:35.320 If you did it through Thinker Swim five hundred dollars, yes. 0:14:35.280 --> 0:14:38.160 Five hundred per but if you bought one future contract 0:14:38.240 --> 0:14:40.360 on TD Americ Trader, it would be sixty two fifty 0:14:40.800 --> 0:14:43.760 because most African Americans don't have six grand laying around 0:14:44.120 --> 0:14:47.000 to invest one contract, so they're a discount broker and 0:14:47.040 --> 0:14:48.600 that's how you can end up buying more contracts and 0:14:48.600 --> 0:14:49.560 the end up making more money. 0:14:49.880 --> 0:14:52.360 So all right, so day trading YEP, day trade. 0:14:52.200 --> 0:14:55.440 Or as I call it, short term investing, but short 0:14:55.520 --> 0:14:57.640 term investing because it's a lot of traders out there 0:14:57.680 --> 0:14:58.960 and most of them don't make money. 0:14:59.640 --> 0:15:04.160 Okay, hey, sorry, So how do you make money day trading? 0:15:04.200 --> 0:15:07.720 Because you said so day trading for anybody is not familiar. 0:15:08.240 --> 0:15:10.560 Is that you're trading in today. That's why it's called 0:15:10.640 --> 0:15:11.040 day trade. 0:15:11.080 --> 0:15:11.160 Ye. 0:15:12.080 --> 0:15:14.800 So you could day trade anything, crypto, which I hate, 0:15:15.240 --> 0:15:16.200 hate crypto hate. 0:15:16.320 --> 0:15:17.720 You can do. We've learned to hate it too. 0:15:18.360 --> 0:15:20.640 You could day trade four x, which I hate. We'll 0:15:20.640 --> 0:15:23.800 talk about we'll talk about that. You could date trade stocks, 0:15:24.120 --> 0:15:27.000 but you said that stocks is not the best way 0:15:27.000 --> 0:15:30.080 to day trade or intry day trade, or however you 0:15:30.080 --> 0:15:30.560 want to prase it. 0:15:30.600 --> 0:15:33.320 Well, stocks weren't originally meant to be day traded. They 0:15:33.320 --> 0:15:36.400 were meant to be held for long term period so 0:15:36.600 --> 0:15:39.480 like thirty forty fifty period. And you notice as an advisor, 0:15:39.760 --> 0:15:41.880 like if you if you had Apple and you traded 0:15:41.880 --> 0:15:45.360 Apple for one day ten years ago, you may have 0:15:45.400 --> 0:15:48.080 made a thousand, two hundred, one thousand, two thousand and 0:15:48.080 --> 0:15:50.760 three thousand dollars. If you would have put two thousand 0:15:50.840 --> 0:15:54.120 dollars into Apple ten years ago, you would probably have 0:15:54.200 --> 0:15:56.760 more than one hundred and fifty grand right now. So 0:15:56.920 --> 0:16:00.720 for a long term wealth building, it's absolutely amazing. But futures, 0:16:00.720 --> 0:16:02.800 you have a thirty day window to trade them and 0:16:02.800 --> 0:16:06.400 then the contracts cycle over. So and I tell all 0:16:06.440 --> 0:16:08.520 of my students, I'm like, go for shorter targets so 0:16:08.520 --> 0:16:11.120 you can get in out profit. But the hardest part 0:16:11.120 --> 0:16:14.080 for most people is they don't have discipline to walk away. 0:16:14.120 --> 0:16:16.600 They'll want to overtrade and black. Well, I've been broke 0:16:16.640 --> 0:16:18.200 the majority of my life, so let me try and 0:16:18.240 --> 0:16:20.680 get ten trades in the day. But you can't make 0:16:20.760 --> 0:16:22.920 up for the time in which you were not previously. 0:16:24.600 --> 0:16:27.400 What's the what's some tips on day like how do 0:16:27.400 --> 0:16:28.000 you day trade? 0:16:28.520 --> 0:16:30.560 First you have to open up a brokerage account, so 0:16:30.600 --> 0:16:33.240 that would be through for features like Ninja trader. And 0:16:33.280 --> 0:16:35.480 then the most important thing, you have to know where 0:16:35.520 --> 0:16:38.080 the direction is going. It's a simple way to know. 0:16:38.560 --> 0:16:41.000 If the market is green, it means the market is 0:16:41.040 --> 0:16:43.440 going up. If it's red, it means it's going down. 0:16:43.560 --> 0:16:46.240 We've all opened up Yahoo finance another bad day. 0:16:46.120 --> 0:16:46.680 So it's read. 0:16:46.760 --> 0:16:49.920 But most traders they are buying when it's red, and 0:16:50.000 --> 0:16:52.600 that's a good investment strategy. But in today, you end 0:16:52.680 --> 0:16:54.200 up losing a lot of money. So if the market 0:16:54.280 --> 0:16:57.360 is going up, ride the market up or buy, and 0:16:57.400 --> 0:16:58.960 then if it's red, you want to sell. 0:16:59.280 --> 0:17:01.040 But you have to have a predetermined target. 0:17:01.640 --> 0:17:06.000 So like if you have fifty shares of let's say bonds, 0:17:06.320 --> 0:17:08.639 unless say you get two pennies worth the movement, you 0:17:08.680 --> 0:17:11.320 can make twelve to fifty and less than fourteen to 0:17:11.320 --> 0:17:12.040 fifteen minutes. 0:17:12.640 --> 0:17:13.600 But then after that. 0:17:13.560 --> 0:17:15.680 You have to stop because you only allowed a certain 0:17:15.680 --> 0:17:17.960